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printshop

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[ANN] Kongzi News Service
« on: October 03, 2014, 09:58:27 am »

http://nxtnews.ca/doc/20141020-knsbp.pdf
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KNS Business Plan
By Printshop – Monday October 20th, 2014


Executive Summary
Kongzi News Service (KNS) is a financial analysis service company that focuses on assets listed on the NXT AE. The Asia-based startup is led by printshop from nxtforum.org. KNS uses in-house analysis and distribution to make recommendations to clients.

Services
KNS focuses on the NXT community and operates on three fronts. We are an asset review agency, which performs financial and trust analysis. We are a news service, which aggregates news relevant to the NXT community; we are also an information management service, which collects information about companies from which we base our research on. We also offer subscription PR and analysis services to companies and investors.


Competitive Edge
KNS will leverage in-house trust metering and compliance systems to quickly gain market share. The system is convenient and based on extensive research, providing a streamlined overview of the expected performance of NXT AE-listed companies.

Market
Our market is comprised of the investors and assets taking part in the NXT AE. We estimate our services in this market to be worth approximately $1 million per year (5% of a $22.5 million market). KNS faces direct competition from NXTinspect and indirect competition from listed news services like nxter.org, which separately do a similar job as our newswire and analysis service. We do not have a direct competitor who copies our service model.

Management Team
KNS is led by printshop, who is registered on Ardeva. Printshop’s experience include running cryptocoin investment funds and mining companies, as well as KPS, a physical print shop in China.


Company Summary
An overview of positive factors affecting KNS.

Low Start-up Costs
The following equipment and services will be needed for startup:
•   Adobe Creative Suite Subscription (1 year; $600)
•   WordPress plugins ($300)
•   Workstation computer ($3,000)
•   Virtual Private Server; 1 year ($400)
•   Company Incorporation ($3,000)
•   Total in NXT: 300,000 NXT
From the above list, we have already purchased the computer, CS subscription, and VPS. The remaining essential funds will be for company incorporation ($3,000 or 120,000 NXT). We do not plan to incorporate until we can pay for the incorporation through our subscription model. We further project an early zero burn rate through accumulating enough NXT to pay for transfer fees (Around 150,000 NXT).

Company Ownership
The shareholders own KNS. Shares represent ownership and control. As a shareholder you have the same rights, responsibilities and obligations as any other shareholder. You can even vote to replace the CEO if you really want to. I am prepared to turn over company leadership should the shareholders agree.
This does not mean that every decision will go to the shareholders. The CEO can do anything he want except steal money from the company outside of his share ownership or arbitrarily dilute shareholder’s interest. This means that I can declare a dividend at any time if I want personal money, but I have to pay everyone else the same as I get, too. It also means that there is no way to prevent me from being voted out if I cannot stop a vote of no confidence with my personal shares.
Unissued shares or shares held by the issuing account are considered unissued and inactive. They may receive dividends as a technicality, in that the company could choose to make a lower payment to other shareholders and retain money, but this would normally only happen as an accident. They may never exercise control during a vote.

Management Fees
As the CEO and manager, printshop will acquire 15% of the company. This will be his only salary as the CEO and manager, although he may receive a fair salary for work done which is also open for other people to participate in (ex. reviews, editing, rewriting). The 15% will be calculated as a percentage of all sold shares over the first year. Upon termination, printshop will receive 5% of all outstanding shares as a severance package.
The company will opt to pay employees in shares whenever possible because it is financially better for shareholders than paying in NXT. For example, if a company has 10 outstanding shares worth 5 NXT each,
Paying 5 NXT creates a company worth 45 NXT or 4.5 NXT/share.
Paying 1 share creates a company worth 50 NXT or 4.55 NXT/share.
Since paying in shares helps the company retain investor capital, we will offer payment in shares until such time as we can pay in NXT out of profits.

Services
In addition to performing community compliance and financial analysis, KNS operates two wholly-owned, unlisted subsidiaries – The NXT News Network (nxtnews.ca) and the Investor Research Center (nxtnews.ca/wiki). Each of these is considered a free and public service, with a layered membership tier.
Our membership or subscription service allows the user to see content that has been reserved for members only. This may include bonus interviews, early access to reports, custom reports, a newsletter, and so forth.
With regard to analysis, KNS has developed a comprehensive set of trust markers for which a company and their community compliance can be evaluated. For example, does the asset issuer have a business plan? What is his experience? Are there any outstanding trust issues?
All of the markers include current, next stage, and long run benchmarks. KNS takes the list of criteria and uses it to guide the review of each asset. We can package these proprietary markers in a variety of ways – such as a “Trust Certification Program” for new businesses, or a “Trust Score” to help investors avoid scams.
Our subscription or membership service will be packaged similar to the model of an investment newsletter such as the Dines letter or the Morgan Report. KNS also offers many more services than other asset analysis which can be monetized, and we are currently working on several new technologies/IP to improve our capabilities in this sector.

Market Analysis Summary
KNS has identified two distinct groups of target customers. These two groups of customers are distinguished by their choice of fund group. They have been grouped as customers which tend to invest in large market cap funds, and those who tend to invest in small market cap companies. The main characteristic that makes both of these groups so attractive is their desire to make a difference in the NXT community by making investment decisions that take into account community factors.
KNS will use these strategies to help both groups. Interestingly enough, both groups will see a benefit in using KNS as their advisory. Group A will come to rely on us for our metrics, while group B will tend to focus on the review and amount of information we are able to collect in one place.

Target Market Segment Strategy
KNS has chosen the previously mentioned target market segments because of the ideological beliefs separating each group and the fact that these beliefs translate into the customer groups needing services that KNS can provide. These groups have the money and willingness to purchase financial analysis, yet detailed financial analysis of this kind is not available. KNS has chosen to distinguish the two market segments by useful behavioral information regarding the different people.

Service Business Analysis
The NXT is a multi-million dollar (over $22 million) currency and the NXT AE is further worth many millions of dollars. Within the industry, customers are served by a wide range of service providers including:
•   Large funds (such as jl777hodl)
•   Franchises (most mining hardware farms)
•   Individual firms (like BGCAFFE)
•   Online brokers (smaller funds which trade on behalf)
Buying decisions are often based on who you know or familiarity that the person may have with a specific company. We can justify charging for our services because our customers will save more money from not investing in scams than they pay us for analysis. 

Competitive Edge
KNS competitive edge is not just the amount of time and effort we put into each review. Our goal is to collect every single piece of information about a company in one place, and then edit it to make it easy to read. This lets people come to trust KNS as a source of reliable information.
We have our own internal trust compliance policies which help us to avoid making subjective statements during reviews. This helps investors know we are trying to remain impartial and have not been co-opted or paid to do the review, because any such language would be seen as a different quality of review than KNS normally provides.

Competition
KNS has no direct competitors that offer all of the services we do, however some companies offer a subset of our services. NXTinspect offers a limited asset review service, and nxter.org is a NXT-focused news publisher. Almost all companies in this sector are plagued by red flag trust issues, which should allow us to pull ahead and become the premier asset rating organization. Using our multi-pronged services model, we will leverage support from one industry into another and surpass our competition.

Marketing Strategy
"The Investor has a Right to Know”. This well-known and concise mantra simply suggests that investors should ask questions about their investments. No one should remain a sheep and just accept it when their investments rip them off. KNS encourages people to make investments based on logic and not the greed-fear-regret cycle so often employed by default. KNS’s returns will be shown to be better than our competitors.
The marketing effort will concentrate on our ability to collect accurate information and prevent investors from falling victim to scams. This will become a powerful reinforcement as soon as we are able to warn against a scam where there are people who have willfully ignored out advice. At that point it will become a historical fact that we have saved investors from trouble in the past and are therefore presumed to be able to continue doing so.

Sales Strategy
The sales strategy will rely on selling the new and latest information about a company which helps investors stay current and to encourage them to “drink upstream from the herd”. Subscriptions will contain detailed comparative financial analysis which is not, by nature, included in the report of a single company (i.e. it will be a separate product).
Such comparative analysis will be extremely valuable to sector investors because it will allow them to make decisions based on metrics they are familiar with, and to identify the sort of company they want to invest in.
It will not tell investors what to invest in, but allow them to make their own informed decision. For example, a list of companies by market cap will allow investors who prefer smallcap companies to invest in smallcaps, and large cap investors to invest in large cap assets.
A sales packet will be assembled and distributed to prospective customers that shows the better than average historic returns that KNS companies with high metric scores enjoy.
We will also sell Trust Certification to companies, which will be an optional program aimed at improving PR through better business competence and trust compliance within the community.

Milestones
KNS has identified several milestones which will act as ambitious yet achievable goals for the organization. By establishing the goals, the need to reach them will develop an implicit incentive for all organizational members to work hard to achieve the milestones.
•   Sell 200,000 shares to raise 1 million NXT: By accumulating 1 million NXT we will be able to forge enough NXT per day to cover our transfer fees when paying dividends. This may seem small but over time it is huge. For example, with 100 shareholders, 52 weekly dividends will cost at least 5,200 NXT or a dilution of over 1,000 shares.
•   Company Incorporation and Licensing: We plan to incorporate and have an office and a telephone number. This will show the community that NXT is real and not some play toy.
•   Profitability: While we strive for a burn rate of zero, a profitability of $500 per month will be considered a major milestone in the company.
•   OP IPO goal satisfied (1 million shares sold): Selling this amount of shares will allow us to operate as an independent entity and will allow us to release all of our reports and analysis free of charge to the community. It will also cement the trust relationship we have with investors because they have shown us their support, and that we no longer need to take money from outside. We will be working for them and them only. It will be an exciting time.
•   Integration with Existing Community Services: We aim to work with existing news and reporting services within the community, promoting and strengthening cohesion and increasing adoption.

Financial Plan
The following sections will outline important financial information.

Important Assumptions
We assume that NXT will continue to be a stable cryptocurrency platform. Our backup plan may include a fallback to the Bitcoin community or another popular cryptocurrency seen to replace NXT.

Break-even Analysis
We are aiming for a zero burn rate through forging and no management fees for the first year, which means a break-even analysis is not required.

Projected Cash Flow
There will be a cash flow of 500 NXT per month per subscription, and 1,000 NXT per month for trust compliance. We will accept payment in shares of established assets via our holding company, KNS holdings.

There will be no significant outflows for the six months, at which time this business plan will be re-evaluated.
« Last Edit: October 20, 2014, 07:25:11 pm by printshop »
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printshop

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Re: [ANN] Kongzi News Service
« Reply #1 on: October 03, 2014, 10:01:10 am »

Frequently Asked Questions:

1. What is your Asset ID and symbol?
Asset ID: 7712643580725736238 (asset info on NXTblocks)
Symbol: KNS
Account: NXT-8XV8-EN3G-8QZT-8EBTT

2. Why are you doing this?
A: I feel that I am capable of offering the best such service in the community, and there is a clear demand for these services.

3. How will you recoup investor's money? How will you monetize your project?
We will have a public facing section and a member's only (subscription) section. In addition we will perform advertisement services for companies to help them gain visibility with investors. Subscriptions will start at around 100 NXT per month. We feel this is a fair rate but we may offer special discounts to students. There may be tiers, with a "pro" level targeted at fund managers or larger investors.

4. What is your experience?
I have about 30 years experience investing for myself in the stock market. I have been studying stock analysis and following the great investors during this time. For me, investing is more than just a hobby, and I'd like to share some of what I have learned.

5. Where can I get more information? What is the roadmap?
Please see our sub-forum on nxtforum.org.

6. You seem to make the same error most asset issuers make; Your asset has 10,000,000 Shares. You want to sell each share a 5 NXT. So your company value is 50 million NXT. Can you explain why KNS value is 50M NXT?
Answer: KNS value is not 50M NXT. This has been explained a couple of times in this discussion thread, so I've decided to put it into the FAQ.
The NXT AE isn't perfect and one of it's biggest problems is you cannot issue or recall shares once you have created a security. If we issue too few shares, the share price may rise uncontrollably due to demand. Investors may feel cheated that they were not able to participate in the IPO. Irrational exuberance may cause people to lose a lot of money in the case of a share price crash. You saw this during the issue of NXTinspect. They sold shares at 1 NXT and the shares almost immediately jumped to 5 NXT. Coinomat had the same problem. They issued 1,000,000 shares and found that demand was so great they had to issue a new asset -- Coinomat1.

Secondly, who is to say any amount of money is too much money? The point of an IPO is to raise money for a company. If we raise a lot of money isn't that better than raising too little? If you are worried that there is a trust issue and that we may run with the money, you shouldn't invest any money with us at all. Otherwise, we really don't see a problem.

There are solutions to the problem of "too many" shares if it becomes an issue in the future. For one, we could destroy extra shares by sending them to the genesis block. Or, we could simply treat them as "unissued" or "inactive" (which is how we are treating them for now).
« Last Edit: October 20, 2014, 07:36:46 pm by printshop »
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whatnxt

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Re: [ANN] Kongzi News Service
« Reply #2 on: October 03, 2014, 02:13:00 pm »

Over the past two or three weeks I've been watching the 'Proof of Company' thread very closely. Over this time span it's become abundantly clear that at the time whatnxt and jefdeisel had no idea how to run an asset ratings service. They didn't know how to monetize it, (and here), they didn't know what kinds of factors should be considered during a review, and they don't understand the sort of things investors want from a ratings agency (this isn't it).
Hi printshop,
You are quite right I have never run a 'proof of' company. I have some experience with startups, but I would never claim to be an expert. I also know I do not have the time to set any compamy up at the moment.

What is clear to me, however, is that you have wanted to set up an asset rating service for some time and that you wanted to be in the center of the action. So I am pleased to see you are taking action.

I trust you have the time to do it justice, given your commitment to KPS.
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printshop

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Re: [ANN] Kongzi News Service
« Reply #3 on: October 03, 2014, 03:03:08 pm »

Over the past two or three weeks I've been watching the 'Proof of Company' thread very closely. Over this time span it's become abundantly clear that at the time whatnxt and jefdeisel had no idea how to run an asset ratings service. They didn't know how to monetize it, (and here), they didn't know what kinds of factors should be considered during a review, and they don't understand the sort of things investors want from a ratings agency (this isn't it).
Hi printshop,
You are quite right I have never run a 'proof of' company. I have some experience with startups, but I would never claim to be an expert. I also know I do not have the time to set any compamy up at the moment.

What is clear to me, however, is that you have wanted to set up an asset rating service for some time and that you wanted to be in the center of the action. So I am pleased to see you are taking action.

I trust you have the time to do it justice, given your commitment to KPS.

You weren't involved in the NXTinspect asset either. From what I saw, no one else tried to answer your questions on the discussion thread. I'm not sure if it was because they didn't know, or if they thought it would be akin to revealing "corporate secrets".

I was intrigued by some of your ideas regarding capitalism and the viablity of privacy over in the "proof of company" thread. I would be very interested in publishing any kind of opinion piece you cared to write about NXT investing in general. I'd pay you regardless of the content as long as it's relevant and "clean" (no cuss words m'am). That way you can help out without having to start your own company. Send me a PM sometime and we can chat about it.

Zahlen

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Re: [ANN] Kongzi News Service
« Reply #4 on: October 03, 2014, 03:22:13 pm »

Hey printshop (I think you really need a another handle now :D). My thoughts again, and again as a new investor with not that much $ and looking for assets to hodl on to medium to long term:

1) The main thing is I want to know what exactly the company is doing and how exactly they're going about (or planning to go about) doing it. e.g. in your own asset thread, you talked a lot about the work you were doing (laying out textbooks and flash cards, showing them to schools), the stuff you needed (office space, printers, laminate, bulk paper), what the current bottlenecks are, etc. In the [ANN] Jinn labs thread, I was asking about how the Triangle guys would go about designing the chips, fabricating the prototypes, testing the products, etc.

They don't have to go into "trade secrets", but I want to know enough to have good confidence that the company knows what they're doing, and they have a robust enough plan. Details like this also lets other professionals chime in with their experience. And like, I totally understood when you were talking about how you were showing your textbooks to schools, I used to teach math freelance, and I'd show my materials to different schools and discuss lessons with the teachers. Things like this that mesh with my own experiences increase my confidence in the company.


2) I'm particularly interested in key obstacles to the plan. e.g. for Jinn's plan, the hardware step requires very skilled people to do the design, fabrication and testing of the prototypes, and Jinn hasn't found these people yet. (Triangle's mentioned they're talking to people, but no details yet). Would like it if reviewers could highlight these obstacles.


3) I'm not much interested in a numerical "credit rating" or "valuation". You could even show me the input numbers and steps you took to arrive at them, but those input numbers would still be your opinion and your estimate. But I'm very interested in comparisons with other companies and suppliers so that I have some idea of what those numbers are like. e.g. For Jinn labs' IPO, I'd be interested in how much other processor manufacturers like Intel, AMD and ARM are worth, not just right now but also in previous years. And I'd like to have some idea how much the prototyping process costs, how much to acquire licenses for design tools like Verilog (and if they are free alternatives instead), how much to fabricate a prototype wafer, what factors influence the cost of one prototype (e.g. number and complexity of components?), and similar qns for the testing and mass production stages. This is also why I'd like to know 1), so that I have an idea of what should factor into the costs. And also, before the hardware step, how does Jiniri compare with other middleware like the Unity Engine? All this is a lot of reading up, I'd love to have all this in one convenient place like an article, and with links to sources.


4) I hate ads. I guess that's true for most folks. But since I'm a small stakeholder, I probably won't be able to make a subscription worthwhile and will have to put up with them.

The only ads I've ever clicked on are informative and unintrusive text ads (and sometimes funny ones). If you can tell me clearly what the product you're offering does, in a way that does not annoy me, then I'm most likely (though still not very likely) to check it out. Also if you need Javascript to display your ad, I'm almost certainly going to block it (and just not use the site if the Javascript ad is a requirement to see the content).


5) Some way to get community input for the analysis and what questions to ask. I learn a lot from reading convos between asset issuers and other people who've worked in the same field.


Quote
Of the 10 million shares which are to be released, 5 million (50%) of the company will be given as special dividends to KPS holders. A further 1 million will be given as charity to various organizations which directly support NXT.

Wow, thanks! This is extremely generous! (Disclosure to everyone: I hold some KPS.)
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printshop

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Re: [ANN] Kongzi News Service
« Reply #5 on: October 03, 2014, 04:17:36 pm »

Hey printshop (I think you really need a another handle now :D). My thoughts again, and again as a new investor with not that much $ and looking for assets to hodl on to medium to long term:

1) The main thing is I want to know what exactly the company is doing and how exactly they're going about (or planning to go about) doing it. e.g. in your own asset thread, you talked a lot about the work you were doing (laying out textbooks and flash cards, showing them to schools), the stuff you needed (office space, printers, laminate, bulk paper), what the current bottlenecks are, etc. In the [ANN] Jinn labs thread, I was asking about how the Triangle guys would go about designing the chips, fabricating the prototypes, testing the products, etc.

This is precisely what investors need to know! Yes, it is what I am planning to focus on. After all, anyone can throw out a business plan, but what happens when you put it under a microscope? Is the company capable of talking baseball?

They don't have to go into "trade secrets", but I want to know enough to have good confidence that the company knows what they're doing, and they have a robust enough plan. Details like this also lets other professionals chime in with their experience. And like, I totally understood when you were talking about how you were showing your textbooks to schools, I used to teach math freelance, and I'd show my materials to different schools and discuss lessons with the teachers. Things like this that mesh with my own experiences increase my confidence in the company.


2) I'm particularly interested in key obstacles to the plan. e.g. for Jinn's plan, the hardware step requires very skilled people to do the design, fabrication and testing of the prototypes, and Jinn hasn't found these people yet. (Triangle's mentioned they're talking to people, but no details yet). Would like it if reviewers could highlight these obstacles.

Another direct hit. For example there was this one Australian mining company that had everything going for it. Large deposit, lots of financing, equipment was all there, ready to go, in fact they had even been mining for 2-3 months. Investors were ecstatic. It was the one in 500 mining story. But then, oops! Oh no! Seismic anomalies prevented them from mining the deposit. I say "oh no," because investors should have known about this from the original land papers. The deposit was unminable 20 years ago for a reason, but no one seemed to be asking any questions. When investors found out they wanted blood. The executives laid low, changed the name of the company, and moved to a different country. Anyone who had dug on the company would have known what was going on, but I remember the bullboard at the time; anyone questioning the company, it's motives, or the business plan was immediately attacked. Does anyone remember (or is even aware of) the massive scandal regarding Sinoforest? When allegations first came out there was a national witch-hunt (I kid you not) for the analyst responsible for outing Sinoforest. He had to go into hiding for months out of fear of his life. However now, the truth has come out, they've been charged with fraud and even Ernst-Young, their accountants and compliance guys, had to pay a settlement because they were apparently in on the misrepresentation to some degree (ex. http://dealbook.nytimes.com/2012/05/22/sino-forest-and-executives-charged-with-fraud-in-canada/?_php=true&_type=blogs&_r=0). Other examples include perpetual energy, no one wanted to face the music over declining production rates and the natural gas anti-story. Then there's the Prophecy Coal story, which amazingly was run by a man named John Lee (no relation I'm sure  ::)).

3) I'm not much interested in a numerical "credit rating" or "valuation". You could even show me the input numbers and steps you took to arrive at them, but those input numbers would still be your opinion and your estimate. But I'm very interested in comparisons with other companies and suppliers so that I have some idea of what those numbers are like. e.g. For Jinn labs' IPO, I'd be interested in how much other processor manufacturers like Intel, AMD and ARM are worth, not just right now but also in previous years.

Spot on. This is exactly the kind of material we will be focusing on. One of my favorite types of charts is a chart of price vs. some aspect of the company. For example, for an oil company, you could look at price over bpd. Or you might compare p/e numbers for various companies. These are common sorts of metrics and will comprise a very large part of what I am setting out to do. And yes you are right it will be difficult to get accurate figures and it will be time consuming to collect.

4) I hate ads. I guess that's true for most folks. But since I'm a small stakeholder, I probably won't be able to make a subscription worthwhile and will have to put up with them.

There will be a large amount of information released to the public. Subscriptions will not be expensive. If we had 100 subscribers, just 200-300 NXT a month would pay for the core business. This does not count any other source of revenue. There may be ads on the public page but they will be extremely limited (for example, a single banner advertisement at the very bottom of a page). I absolutely hate any sort of forced viewing of ads. Especially ads that try to trick you into doing something by various means. I detest that with a burning hatred. It's not necessary. It's intrusive.

5) Some way to get community input for the analysis and what questions to ask. I learn a lot from reading convos between asset issuers and other people who've worked in the same field.

I will be playing strongly into this angle as well. However I have a feeling that the option for users to do this will be more important than them actually doing it. I don't actually expect (and am not relying on) a lot of community-sourced news. But the option will always be there, and it will be promoted to some degree.

Quote
Of the 10 million shares which are to be released, 5 million (50%) of the company will be given as special dividends to KPS holders. A further 1 million will be given as charity to various organizations which directly support NXT.

Wow, thanks! This is extremely generous! (Disclosure to everyone: I hold some KPS.)

Upon reflection 5 million might be a little too much; I might lower it to 3 or 4 million. But the fact is that KPS represents a great deal of my personal time which I am monetizing, and this will be an excellent way to dodge any issue over the mismanagement of KPS at the expense of KNS. My investors will be well-rewarded for supporting me, one way or another. I couldn't have done it without them.
« Last Edit: October 03, 2014, 04:29:30 pm by printshop »
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colin012

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Re: [ANN] Kongzi News Service
« Reply #6 on: October 03, 2014, 05:48:20 pm »

Hey, the more review groups, the better! I personally have no problem with NXTInspect but more review groups means more sources to compare for investors which means more accurate reviews for all parties involved. You are more than welcome to review all the assets I have issued. :) Just let me know if you have any questions.
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Sebastien256

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Re: [ANN] Kongzi News Service
« Reply #7 on: October 03, 2014, 05:55:07 pm »

Happy to know this new service that you are planning.

Once you have your asset issue and website up and IPO is done, etc..., I would recommand to put your asset on CMC. We need those kind of asset on CMC for good public view of Nxt.

Here an example that was asked for the Jinn asset.

Quote
What is the coin's official website?
http://www.jinnlabs.com/

Please provide a URL that shows the total number of coins in real time.
http://nxtreporting.com/?as=3061160746493230502

Please provide a URL of the coin's official logo:
http://www.jinnlabs.com/jinn_logo.png

Please provide any other information that would be useful.
https://nxtforum.org/news-and-announcements/(ann)-jinn/
https://nxtforum.org/jinn/
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Please drop your ideas concerning Nxt and/or NRS in this topic -> List of feature request for Nxt and/or NRS (with the full list in OP).

colin012

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Re: [ANN] Kongzi News Service
« Reply #8 on: October 03, 2014, 08:08:26 pm »

Give me the details of the KNS asset. Asset ID, account ID, etc.
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printshop

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Re: [ANN] Kongzi News Service
« Reply #9 on: October 03, 2014, 08:20:10 pm »

Give me the details of the KNS asset. Asset ID, account ID, etc.

There is no account or asset at this time. I'll create one tomorrow. I will be busy all day on Saturday so I won't be able to do on it until the evening. I'm in the process of creating and memorizing a strong password for the account.

TwinWinNerD

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Re: [ANN] Kongzi News Service
« Reply #10 on: October 03, 2014, 08:24:24 pm »

I have an awesome idea for your venture. Contact me then I can fill you in on the details ;)

Sebastien256

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Re: [ANN] Kongzi News Service
« Reply #11 on: October 03, 2014, 08:27:37 pm »

Give me the details of the KNS asset. Asset ID, account ID, etc.

There is no account or asset at this time. I'll create one tomorrow. I will be busy all day on Saturday so I won't be able to do on it until the evening. I'm in the process of creating and memorizing a strong password for the account.

What? Please also print it and put it in a safe box at bank. If your head got hurt at least the password is somewhere.  ::)
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TwinWinNerD

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Re: [ANN] Kongzi News Service
« Reply #12 on: October 03, 2014, 08:29:42 pm »

Just use a BIP38 locked BTC private key to enter the NXT account.

Zahlen

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Re: [ANN] Kongzi News Service
« Reply #13 on: October 03, 2014, 08:43:49 pm »

Quote
Of the 10 million shares which are to be released, 5 million (50%) of the company will be given as special dividends to KPS holders. A further 1 million will be given as charity to various organizations which directly support NXT.

Wow, thanks! This is extremely generous! (Disclosure to everyone: I hold some KPS.)

Upon reflection 5 million might be a little too much; I might lower it to 3 or 4 million. But the fact is that KPS represents a great deal of my personal time which I am monetizing, and this will be an excellent way to dodge any issue over the mismanagement of KPS at the expense of KNS. My investors will be well-rewarded for supporting me, one way or another. I couldn't have done it without them.

Yeah do take care of yourself and your main business. You seem to have a lot on your plate :)

A lot of people here forget (maybe "forget" is too polite a word) that assets are not just things that rise in price and give you $. They're supposed to help people raise funds to do stuff with (among other uses). When asset issuers (at least, honest and competent ones who use $ wisely) raise more $, they can develop their products and services more and give you more return on your invested $. It's win-win.

 
There is no account or asset at this time. I'll create one tomorrow. I will be busy all day on Saturday so I won't be able to do on it until the evening. I'm in the process of creating and memorizing a strong password for the account.

What? Please also print it and put it in a safe box at bank. If your head got hurt at least the password is somewhere.  ::)

Yeah do have a hardcopy backup somewhere. I have a Super Secret Spot for my important passwords.
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Re: [ANN] Kongzi News Service
« Reply #14 on: October 04, 2014, 12:32:19 am »

Hello printshop,
I love competition!
We will be watching your project's development.
Regards,
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jefdiesel

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Re: [ANN] Kongzi News Service
« Reply #15 on: October 04, 2014, 06:08:37 am »

First thing, whatnxt was asking questions as an outsider and is not in anyway affiliated with NXTinspect. All those links are meaningless in your context. His confusion at how to run a ratings service was mostly to do with the fact that he was not involved in the running of a ratings service. If you misconstrue a forum post so badly, who knows what else you might have confused.

Second, our analysis is not postponed by anything but our own system for posting and broadcasting the reviews. As the internet has taught us, content is king. We are making content non stop. Whale and I have been accumulating numerous reviews, and Chanc3r has been working on sleek and simple JSON to report over the NXT encrypted messaging system. We will send these direct to our subscribers, and then 24 hours later to be published on NXTreporting.
We know the reviews we've written may be out of date in the time before we publish, but  the fundamentals are figured and we can easily crunch the numbers again to get them up to date.

Sorry if you felt snubbed, but we three started this. You did indeed post here here and here. I've posted WAY TOO many things on this board, i'm not quoting them all.  Snubbing anyone was not the plan. Now you sound like you are sad you got picked last at kickball/soccer/baseball and are taking your toys and are going home.

Quote
There are some rotten apples here, I assure you, and we will root them out. Just in our own way as separate companies.
I agree but I am also looking to praise the success stories and the achievers.

I have also made many efforts to reach out to Assets Issuers with muddy operating procedures, hoping they could clear these up for me. Some have helped out, and together we have made things safer for investors.
I really don't want to destroy value. But if that value is only there to lure more dirty money I must act.
Some asset issuers have stonewalled and refused, told me to do my own work, and dismissed my concerns out of hand. Who knows, maybe my word is worth nothing, but I'm a believer in information. Knowledge is power. I feel once investors know some basic facts, the rules will change.
I have no desire to push anyone out, or to have a witchhunt. But I do want some basic compliance.  Not to my will, but to basic, honest dealings.
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printshop

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Re: [ANN] Kongzi News Service
« Reply #16 on: October 04, 2014, 07:05:52 am »

First thing, whatnxt was asking questions as an outsider and is not in anyway affiliated with NXTinspect. All those links are meaningless in your context. His confusion at how to run a ratings service was mostly to do with the fact that he was not involved in the running of a ratings service. If you misconstrue a forum post so badly, who knows what else you might have confused.

In my response to whatnxt (above) I stated that I knew he wasn't tapped for your project, and clarified what I was trying to say. I feel you should have been aware of that before you posted your message, so I'll respond to the rest of it in PM.
« Last Edit: October 04, 2014, 07:36:01 am by printshop »
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nexern

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Re: [ANN] Kongzi News Service
« Reply #17 on: October 04, 2014, 10:13:56 am »

it is always good to have another source for deeper asset informations.
while i think it is very difficult to value current assets ( esp. synthetics) with traditional params,
your approach looks good and i am curious to compare both as soon as available.
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whale

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Re: [ANN] Kongzi News Service
« Reply #18 on: October 04, 2014, 01:18:43 pm »

What worries me is that you insist on believing that an individual small-time asset owner (who has questionable business practices) continues to believe that he can do a better job than three senior members who collectively have experience in projects worth millions of dollars. Not only that, but NXTinspect has strategic partnerships (I have outlined the terms already in another thread, these are NOT investors) who will further our movement to protect the community with honest, well researched reports.

Instead of all this FUD about how objective our reviews will be. How about you give us a chance and actually read one when they are published? Make your decision then instead of all this fear mongering.

I support all Nxt assets, but when you feel the need to dedicate half of your announcement to how amazing you are and how crap the competition is, that is really sad. Why not start over and tell us exactly what you are doing and why potential investors should invest into your project without all of the fluff? It is unnecessary if you are as good as what you say you are. Actions speak louder than words, right?

Anyway, however you do it. Good luck  :)



 
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printshop

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Re: [ANN] Kongzi News Service
« Reply #19 on: October 04, 2014, 02:02:20 pm »

What worries me is that you insist on believing that an individual small-time asset owner (who has questionable business practices) continues to believe that he can do a better job than three senior members who collectively have experience in projects worth millions of dollars. Not only that, but NXTinspect has strategic partnerships (I have outlined the terms already in another thread, these are NOT investors) who will further our movement to protect the community with honest, well researched reports.

You are worried that I "insist" on believing I can do a better job than you. The implication is that I cannot do a better job than you. You offer the following facts to lend credibility:
1. you employ more people than I do; I am "small-time"
2. you and your employees are senior members of the community
3. your experience is in projects worth millions of dollars
4. NXTinspect has strategic partnerships (which are expected to help NXTinspect perform it's duties)
5. Further to 4, that these strategic partnerships will further your ability to protect the community by increasing the honesty and research of your reports.

The problem is that all of this is subjective and it remains to be seen if you can actually do a good job reviewing a company.
a) The fact you employ more people than I do is both meaningless and likely to be false at some point in the future.
b) The fact that you are senior members of the community is irrelevant (but trying to use this to garner free credibility is a red flag). But I wouldn't worry about this point on it's own.
c) The fact that you have experience in projects worth millions of dollars is nice. But so do I. The main difference is that my experience is in working for companies outside NXT AE space, while yours is in being employed by jl777.
d) We also have strategic partnerships with relevant companies. For example we have made an agreement with a certain news site which will publish many of our articles on their stream.
e) We do not require other people to help us remain honest, objective, or to do due diligence on a company.


Instead of all this FUD ... Actions speak louder than words, right? :)

Your words have a severely negative tone. You have accused me of spreading FUD while at the same time claiming we have "questionable business practices". But you haven't explained what you mean or provided any evidence. If I made such a post about NXTinspect, would you delete my post?

When I state that it is a simple fact that you are an employee of James and therefore there is a conflict of interest, this is not FUD. Promising not to review James' assets isn't good enough, because you might not give a favorable review to one of James' competitors. And based on the fact that he controls 90% of the AE, every single other asset is a competitor.

If actions speak louder than words, admit there is a conflict of interest and embrace your role. I am sure the community is willing to forgive you and will overlook your employment by James. I am sure that long term you will do a good job reviewing assets. All I can say is, please make a special effort to remain objective, never use subjective language during a review (i.e. saying that what we are doing is "sad"), and above all never make any sort of claim about a company unless you have strong evidence to back it up. What you said above, that we have questionable business practices, is a textbook example of what never, ever to do as a ratings agency. You have issued a baseless claim against a competitor. I didn't force you to do it, but you did it. The only way out is to apologize and learn from your mistake.

I think next time this sort of conversation should occur in PM. Please oblige.
« Last Edit: October 04, 2014, 02:36:06 pm by printshop »
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